Chapter91: < The Leap of Hyunjin Construction (5) >
Hyunjin Construction, located in Incheon, had changed a little since the last time I visited when it was still Hyeseong Enterprise.
It might have been the new sign, or perhaps the different clothes people were wearing, but the biggest reason seemed to be the change in the employees' expressions.
Having gone from a small-to-medium enterprise called Hyeseong Enterprise to a subsidiary of a major conglomerate—even if it was small compared to other large corporations—their morale had undoubtedly risen in many ways.
“Hello. I’m Manager Choi Yeong-hun from the Secretarial Office.”
As I followed the secretary into the president's office, President Gu Do-il stood up with a bright smile.
“Welcome. It’s been a while.”
“Please, speak comfortably.”
“Haha... Alright. Have a seat.”
President Gu Do-il also looked much better than he had during the workout period under Shinyoung Bank.
As Yeonghun sat down, he asked casually.
“By the way, what is your date of birth?”
“My birthday? Why do you ask about my birthday?”
“A close friend of mine runs a flower shop, and he insists I have flowers delivered whenever it’s someone’s birthday. I guess flower shops are struggling these days, because he gets so happy whenever I call.”
“Ah, is that so? Mine is June 2nd.”
It was the same birthday Yeon-hee had told him.
This meant either the four pillars of destiny were wrong, or there was something he didn't know.
“Ah... are you sure it’s June 2nd? Is that the solar calendar...?”
“That’s right. I don’t know my lunar birthday.”
“Ah... I see.”
He seemed to have a lot to say, and began talking as soon as Yeonghun sat down.
“I saw the news. When Hyunjin Corporation first acquired our company, everyone was just bewildered, but now the atmosphere has changed to one of high expectations. They’re all stunned that Hyunjin Group’s welfare system will be applied here and that salaries will be raised. To be honest, I don’t know if that’s okay. We haven’t gained anything yet except for changing our name from Hyeseong Enterprise to Hyunjin Construction.”
He seemed to have many worries.
Hyunjin Corporation wasn't a charity, and there was no reason to raise the salaries of a struggling company's employees immediately after acquiring it.
On paper, Hyunjin Construction was still in a difficult situation, with a significant amount of debt to repay each month.
So, it was natural for President Gu Do-il to be startled by the talk of raising employee salaries.
“The plan isn’t to raise them immediately, but to bring them in line with Hyunjin Corporation’s salary scale starting at the end of this year. It has to be done.”
“We’re short on projects right now.”
“The selection of the construction company for the Bongseon-dong apartment will be announced soon. The results aren’t out yet, so let’s wait and see.”
“Are you really serious about winning that? Wasn’t that department created for the purpose of acquiring Hyunjin Tourism?”
“That’s not the case. The head office is making efforts on multiple fronts, so please wait and see. And with the acquisition of Hyunjin Tourism, the plan to supply the hotel's breakfast system to all units will become much more persuasive. The head office is viewing this very positively.”
“Viewing it positively... really?”
“I’m not just saying that. For now, please just wait a little longer. Also, the announcement for the Gwangju Metropolitan City AI complex project will be made soon. Please apply for as much as you can.”
“An AI complex? Wait... how large was that project?”
“They say about 1.2 trillion won will be invested.”
President Gu Do-il looked at Yeonghun with suspicion.
“We’ve often participated in government-commissioned projects, so bidding on this isn’t a problem. But it’s not as simple as just putting Hyunjin Construction’s name on the proposal, you know? Do you have connections higher up? If you do, you have to tell me for sure. It can completely change everything, from the bid price to the interior materials and design.”
“Hmm... are you saying that if we have connections, you’ll raise the bid price and use cheaper interior materials?”
Seeing Yeonghun’s expression sour, President Gu quickly added an explanation.
“Usually, for projects like this, there are certain standards that government officials prefer. It’s not so much about using bad materials, but sometimes there are materials that seem similar to an expert but have a huge price difference, which drives up the construction cost.”
“And so?”
“If we have a solid connection, it means we can bid with the most reasonable price we can offer. But if not, we have no choice but to submit a low bid. Then, even if we win the project, there’s nothing left for us. That’s why most construction companies win the contract first and then use cheap materials to lower the construction costs.”
It made sense.
“There’s no particular need to submit a low bid. We can’t afford to take a loss just to win a project. But we need to keep winning contracts, not just this AI complex, right? We can’t remain a small-to-medium enterprise forever.”
“That’s true, but...”
“If possible, please hire a lot of skilled personnel.”
“A construction company can hire as many skilled people as it wants, as long as it has the money. That’s how Korean construction companies are. When the market is even slightly active, they hire a lot of people and build up their skills, and when a recession hits, they force those valuable people to retire.”
“Then what happens when the economy improves again?”
“Then they make mistakes again, miss the construction deadline, take losses, and so on. Anyway, is that what the President wants?”
“Yes.”
“Haha... Still, I feel relieved now that you’re here, Manager Choi.”
“The President said he would arrange a meeting with you sometime. He’s just been so busy lately...”
“I know. After pulling off something so big, he must be swamped.”
Just then, someone knocked on the door.
“President, Chief Gu Ho-jun is here.”
“Oh, right. Let him in.”
Wondering who it was, a man about Yeonghun’s age entered with a shy expression.
He was about 170 cm tall and had a considerable build, suggesting he ate well.
But upon closer inspection, his features were exceptionally good.
His gaze was clear, his pupils were dark, his lower face was solid, and his cheekbones were well-developed.
He looked so good-natured and likable that one would instinctively think he was a good person just by looking at his face.
The only flaw, if any, was a hint of indecisiveness in his features.
He was kind-hearted and indecisive, a personality that could lead to considerable hardship if he met the wrong woman.
In truth, no matter how good one’s four pillars of destiny and features are, if they marry the wrong husband or wife, they often fail to enjoy all the blessings they were given.
“This is...?”
“Ah, this is my youngest brother. His name is Gu Ho-jun, and he works in the design team. This is Manager Choi Yeong-hun from Hyunjin Corporation, who works in the Secretarial Office. Go on, say hello.”
He was emphasizing that Yeonghun was a key figure who assisted the President at close quarters at Hyunjin Corporation.
“Hello. I’m Gu Ho-jun. Haha...”
As expected, he had a good-natured laugh.
Yeonghun shook his hand briefly and asked.
“A pleasure to meet you. Have you been with this company for a long time?”
“It’s been about three years since I joined.”
“You must have studied a lot in the construction field?”
“My father was in this industry, so I’ve been interested in architecture since I was young. That’s why I studied abroad as well.”
Here, President Gu Do-il interjected.
“I have four sons in my family, and he’s the youngest. There’s a seventeen-year age gap between us. He’s almost like a son to me. I’m not just saying this because he’s my brother, but his skills are incredible. He won all sorts of competitions since he was in school, so much so that Bechtel kept asking the university if he was going to apply because they wanted to recruit him.”
Though Yeonghun had no idea what Bechtel was, he put on a look of surprise and asked.
“Oh, really?”
Chief Gu Ho-jun smiled shyly and said.
“Haha, it wasn’t just me. There were a few other friends who received calls back then.”
“You’re an amazing person.”
“I’m not just saying this because he’s my brother, but his skills are incredible. Ho-jun here was in charge of the design for the Bongseon-dong apartment. They might try to push us around with their brand name, but to be honest, our design capabilities are in no way inferior to other large corporations.”
“Ah... I see. I understand.”
He wasn't entirely sure what they were talking about, but the point was that he was talented. Besides that, Yeonghun could tell from his features alone that he was a true talent.
Feeling that continuing the conversation would only expose his ignorance, he quickly excused himself.
As he left the company, Yeonghun requested Gu Ho-jun’s personnel file from Yeon-hee.
When Yeon-hee immediately found and sent him the information, Yeonghun could only laugh in resignation, finally understanding why the company had struggled despite President Gu Do-il being born with such tremendous fortune in wealth.
While Gu Do-il was born with great fortune, Gu Ho-jun was born with a vessel that surpassed his brother's.
In crude terms, you could say his energy was strong.
If Yeonghun’s younger self had a greedy saju that swept up all the surrounding fortune, Gu Ho-jun’s was the opposite.
He was a man born with a saju that kicked away all incoming fortune until he turned thirty.
If he had been born into an ordinary family, he would have lived an extremely difficult life before thirty, but thanks to President Gu Do-il’s fortune, he was even able to study abroad.
That wasn't to say that financial fortune had come to him now.
The only difference was that the bad luck that had clung to him was now receding, opening a path for President Gu Do-il’s fortune to flow in once again.
*
A few days later, at the Geoje shipyard.
The Hyunjin Heavy Industries executive meeting was as frigid as the cold sea breeze whipping through Geoje.
“If you have a mouth, speak up. Why is no one talking? Are we taking this or not?”
At Chairman Im Chang-ho’s words, one of the executives opened his mouth.
“If that’s really certain, then I suppose we should...”
Before the executive could finish his sentence, Managing Director Kim Tae-min shouted.
“Absolutely not! The company is just now starting to get back to normal. If we acquire the Gunsan shipyard, we’ll have to hire at least a thousand new employees right away. There’s no guarantee we can secure enough orders to fill all those large docks in Gunsan. If we don’t win as many contracts as expected from the Qatar bidding, we could face enormous losses.”
The executive retorted.
“You can’t look at it only that way. The market is changing right now. Qatar may be preparing a large-scale order, but there are still plenty of other projects we can win.”
“And what if we don’t? Will you take responsibility?”
The executive’s face turned red at Tae-min’s harsh rebuttal.
“I will take responsibility. Will my resignation suffice?”
“Hmph! The company could go under, and you think offering up your job is enough to end this?”
“Are you saying you refuse to listen to any opposing opinions?”
“Then go ahead and take responsibility. You’re talking about something you can’t possibly be responsible for, aren’t you?”
Chairman Im Chang-ho, who had been listening quietly, spoke up.
“Then, how do you expect our Managing Director Kim to take responsibility if the shipbuilding industry continues to grow?”
“Ch-Chairman... that’s...”
“Don’t press him like that. Unless you’re trying to silence him completely, don’t you think speaking that way would offend the person listening?”
“I apologize.”
“So, Managing Director Kim, your argument is that we should give up on Gunsan Shipyard and the idea of running two shipbuilding businesses in one group? Is that it?”
“Chairman, that’s an absurd assumption from the start. Do you really think Mujin Heavy Industries will sell Gunsan Shipyard easily? And even if they did, how would we acquire Haeju Shipbuilding & Marine Engineering, which Mujin is after? To buy both Gunsan Shipyard and Haeju Shipbuilding, we’d have to sell off all of Hyunjin Corporation’s assets, and it still wouldn’t be enough.”
“There are banks, aren’t there? Shinyoung Bank, the one we used to acquire Hyunjin Tourism. If they were willing to secretly act as a Black Knight in a hostile takeover, they must be thick as thieves, no? Would a relationship like that balk at lending a mere acquisition fund?”
“That’s a one-in-a-million chance, at best. We can’t let such a slim possibility shake the future of the group. And while they say the shipbuilding industry is recovering, the offshore plant sector is still on its deathbed. It’s too early to be certain of a recovery.”
Chairman Im felt both frustrated and sorry for Tae-min, who was so vehemently opposed.
He could fully understand why he was so against it.
With their affiliates already reduced after losing Hyunjin Tourism, he knew that if they took on Gunsan Shipyard and another recession hit, the entire group would be shaken to its core.
Gunsan Shipyard was undoubtedly a double-edged sword.
If things went well, it would establish Hyunjin Heavy Industries as the largest shipbuilding company in the country. But if they went poorly, it would be a bomb capable of bringing down the entire group.
“Alright, I understand for now. I’ll think about it some more. All of you, leave.”
With a weary expression, Chairman Im waved his hand, dismissing the executives.
But Tae-min alone remained, standing his ground.
“Why aren’t you leaving?”
“Grandfather, are you really going to acquire Gunsan Shipyard?”
“I said I’ll think about it.”
Tae-min, his anger flaring, shouted.
“Haven’t you always been like this! Whenever things don’t go your way, you postpone the decision and push until everyone agrees with you!”
“What is the meaning of this...”
“This is truly unfair. You just stood by and watched as Hyunjin Tourism fell, and now you intend to bring down Hyunjin Heavy Industries as well? No, I see what you’re thinking now. When Hyunjin Heavy Industries is struggling under the weight of Gunsan Shipyard, you plan to have Hyunjin Corporation help them, don’t you? So you can hand this company over to that bitch Yeon-hee, is that it?”
“What did you say, you brat!”
As Chairman Im, enraged, shot up from his seat and roared, the back of his neck stiffened and his vision blurred.
< The Leap of Hyunjin Construction (5) > End
0 Comments